Telix Entered into a Licence Agreement with Lilly to Develop and Commercialise Olaratumab for Cancer
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- Lilly to receive $5M up front, ~$225M upon achievement of pre-specified development, regulatory & commercial milestones along with royalties for granting a license of Olaratumab to Telix
- Telix gets an exclusive right globally to repurpose olaratumab as a targeting agent for radiopharmaceutical imaging and therapy of cancer. The initial development focus of Telix will be on STS
- Lilly to get an option to exclusively license radiolabelled CDx, developed by Telix. If the option is exercised, Telix will receive $5M & ~$30M in development milestones along with royalties. Additionally, Telix obtains a termination right to license agreements, based on a development or commercial basis
Ref: PRNewswire | Image: Lilly
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
